Horse racing industry dreams of riches can come true
THE running of the Melbourne Cup at Flemington is a shining example of the appeal, size, strength, and colour of the business of horse racing. The Melbourne Cup is arguably the largest and best known horse race in the world and the number of international visitors for the big race continues to climb.
Horses from across the world have visited Flemington for the first Tuesday in November and over the years the big race has been won by New Zealanders, English, Irish, Japanese, and more recently by French invaders.
However, the Melbourne Cup is just the tip of the iceberg of the horse racing industry in Australia. Many are reliant for their income on the industry and in Queensland alone there are 30,000 industry participants.
It starts with the breeding farms where approximately 18,000 foals are born each year around Australia before being sold at yearling sales.
The purchaser will then select a trainer to prepare the horse for racing to chase a share of the $400 million prize money on offer across Australia. This prize money is funded out of a portion of the annual Australian Tote and Tab turnover of around $9 billion.
It is however estimated that the costs to the owners of purchasing the horses and having them trained is near to three times the amount of prize money paid out across the nation.
This would indicate that horse racing is not a wise investment, but it is an industry where dreams of riches can come true.
A current example of this is the champion mare Black Caviar and her trainer Peter Moody.
Moody was raised in Charleville and at 15 headed off to the famous T J Smith stables in Sydney.
After learning the trade he took a trainer's licence out in Queensland and actually won his first premiership at Ipswich.
Soon after Moody relocated to Victoria and now he has around 250 horses and 800 clients whose investments he is managing. Moody is now Victorian premier trainer and of course trains the unbeaten Black Caviar who he purchased for $210,000 and who has now earned $5.5 .
Today the first Tuesday in November is the day for all to dabble on an Australian icon - the Melbourne Cup - so good luck to everyone with their investment.
Suncorp Bank Business Leaders Breakfast: Friday, November 16, 6.45am to 8.30am at The Ipswich Club. Guest Speaker - Qld cricketing legend - Carl Rackemann. Members $44 and non-members $55.
Nominations open - 2013 Ipswich Chamber of Commerce and Industry Board. Nomination form and attachments to be received by the Chamber Office on or before 2.30pm Friday, November 16. Ipswich Chamber of Commerce & Industry AGM followed by our final Networking After 5 event for 2012 - December 4 - Ipswich Club starting at 5pm. Free for members.
Bookings and payment in advance is essential for all events. Inquiries phone 3282 8688 or firstname.lastname@example.org.